Candel Therapeutics (NASDAQ:CADL) Director Paul Manning Acquires 550,458 Shares

Candel Therapeutics, Inc. (NASDAQ:CADL) Director Paul Manning purchased 550,458 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average price of $5.45 per share, for a total transaction of $2,999,996.10. Following the acquisition, the director owned 2,763,527 shares of the company’s stock, valued at $15,061,222.15. This represents a 24.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Candel Therapeutics Price Performance

Shares of NASDAQ CADL opened at $5.15 on Friday. Candel Therapeutics, Inc. has a 1 year low of $4.25 and a 1 year high of $9.13. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.25 and a quick ratio of 8.25. The company’s 50-day moving average is $5.77 and its 200 day moving average is $5.50. The stock has a market capitalization of $282.74 million, a P/E ratio of -9.03 and a beta of -0.94.

Analysts Set New Price Targets

CADL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Candel Therapeutics in a research note on Wednesday, January 21st. Citigroup decreased their price target on shares of Candel Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Wall Street Zen lowered shares of Candel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Zacks Research downgraded shares of Candel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Stephens reiterated an “overweight” rating and set a $15.00 target price on shares of Candel Therapeutics in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Candel Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Trading of Candel Therapeutics

Several institutional investors have recently added to or reduced their stakes in CADL. Invesco Ltd. bought a new position in shares of Candel Therapeutics during the first quarter valued at $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Candel Therapeutics by 37.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,748 shares of the company’s stock worth $95,000 after buying an additional 4,583 shares during the last quarter. Rhumbline Advisers lifted its stake in Candel Therapeutics by 26.8% during the 1st quarter. Rhumbline Advisers now owns 33,302 shares of the company’s stock valued at $188,000 after acquiring an additional 7,030 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Candel Therapeutics in the second quarter worth approximately $126,000. Finally, Geode Capital Management LLC raised its holdings in shares of Candel Therapeutics by 31.5% during the second quarter. Geode Capital Management LLC now owns 903,970 shares of the company’s stock valued at $4,575,000 after purchasing an additional 216,509 shares during the last quarter. 13.93% of the stock is currently owned by hedge funds and other institutional investors.

About Candel Therapeutics

Candel Therapeutics (NASDAQ:CADL) is a clinical-stage immuno-oncology company focused on the development of next-generation oncolytic viral therapies designed to treat solid tumors. The company’s lead candidate, CAN-2409, is a locally administered, gene-delivered viral therapy engineered to selectively replicate in cancer cells and induce immunogenic cell death. Candel leverages proprietary virus engineering platforms to enhance tumor-specific replication and stimulate anti-tumor immune responses, aiming to improve outcomes for patients with high unmet medical needs.

In addition to its lead program, Candel’s pipeline includes CAN-3110, an oncolytic herpes simplex virus targeting recurrent high-grade glioma, and other novel viral constructs being explored for a variety of solid tumor indications.